CompUSA closing more than half of its stores
CompUSA, a major computer and electronics retailer, is closing more than half of its United States stores in the next couple of months. The company will shut the doors on 126 out of the 225 stores that it operates in the United States and Puerto Rico.
Roman Ross, CompUSA’s CEO said, "Based on changing conditions in the consumer retail electronics market, the company identified the need to close and sell stores with low performance or non-strategic, old store layouts and locations faced with market saturation."
CompUSA has been losing money as a result of severe price wars with other retailers like Best Buy and Circuit City. The store closures started last week and most of the stores will be closed within 60 to 90 days. CompUSA will receive a $440 million dollar capital cash infusion after the closings.
- Chinese scientists remote control pidgeons
- Premium flash devices can balance volatile flash business, Samsung says
- Computer hiccup distorted Dow Jones decline
- Google success a "wake-up call" for Microsoft
- Brand new SimCity heading to the Nintendo DS
- Software update for your car can reduce fuel consumption, researcher says
- TomTom adds Curt Schilling's voice to GPS systems
- Microsoft releases patch for Vista
- Chinese man dies after week-long gaming session
- Most Phones Are Crap, iPhone Is Worth $500 Argues Apple
- Dell Plans To Sell Machines Without An OS (IE, Windows)
- Lenovo Has Exploding Battery Problem, Announces Recall
- Will the iPhone halt a drop in NAND flash pricing?
- Intel invests $65 million in PTI
- Shuttle announces SD39P2 barebone XPC
- AMD demonstrates accelerated computing solution that breaks teraflop barrier
- Albatron claims KI690-AM2 is most powerful Mini-ITX
- PowerColor introduces X1950 PRO Silence Edition
